Quick Summary
- Al Rajhi Bank — most popular for Saudi-India transfers, fast and reliable
- Wise — best exchange rate, low transparent fees, takes 1–2 days
- STC Pay — excellent for quick mobile transfers, competitive rates
- Western Union / MoneyGram — good for recipients without bank accounts, cash pickup
- The exchange rate matters more than the transfer fee on larger amounts
- Saudi Arabia charges a remittance levy on transfers — factor this into your calculations
Why the Platform Choice Matters
Consider this: if you send SAR 3,000 to India every month and the exchange rate difference between the best and worst platform is 1.5%, that is SAR 45/month — SAR 540/year — SAR 2,700 over a 5-year contract. On transfers of SAR 5,000 or more the difference becomes even more significant. Choosing the right platform once and sticking with it is genuinely worth the 30 minutes of comparison research.
Platform Comparison — SAR to INR
| Platform | Exchange Rate | Transfer Fee | Speed | Best For |
|---|---|---|---|---|
| Wise | Mid-market rate | Low — ~0.5–1% | 1–2 days | Best overall rate — larger transfers |
| Al Rajhi Bank | Competitive | SAR 15–25 fixed | Same day / next day | Fastest, most reliable, widely used |
| STC Pay | Competitive | Low — varies | Minutes to hours | Quick mobile transfers, convenience |
| SNB / Riyad Bank | Slightly below market | SAR 20–35 | 1–2 days | Existing bank customers — convenient |
| Western Union | Below market | SAR 15–30 | Minutes | Cash pickup for recipients without bank accounts |
| MoneyGram | Below market | SAR 15–30 | Minutes | Cash pickup — alternative to Western Union |
How to Transfer Using Al Rajhi Bank App
Open Al Rajhi App and Select Transfer
Log into the Al Rajhi mobile app. Select "Transfers" then "International Transfer" or "Remittance."
Select India as Destination
Choose India as the destination country and INR as the currency. Al Rajhi has direct relationships with major Indian banks.
Enter Beneficiary Details
Enter recipient's full name exactly as on their bank account, account number and IFSC code. Save the beneficiary for future transfers to save time.
Enter Amount and Confirm Rate
Enter the SAR amount. The app shows the INR amount the recipient will receive and the total fee. Confirm the exchange rate is acceptable before proceeding.
Confirm with OTP and Complete
Confirm the transfer with the OTP sent to your Saudi mobile number. Transfer is typically credited to the Indian bank account within hours or by next business day.
The Saudi Remittance Levy — What It Is
Saudi Arabia charges a remittance levy on international transfers made by non-Saudi residents. The levy applies to transfers above a certain threshold and is collected automatically at the time of transfer. Key points:
- The levy is charged in addition to any platform fees
- It is automatically deducted — you do not pay it separately
- Check the current levy rate at the time of transfer as rates are subject to government updates
- Factor the levy into your total cost calculation when comparing platforms
- The levy applies regardless of which platform you use — bank, app or money exchange
Smart Transfer Tips
- Transfer on weekdays — transfers initiated on Friday afternoon or Saturday may not be processed until Sunday or Monday in India due to banking hours. Plan accordingly if timing matters.
- Save your beneficiary details — all platforms allow you to save recipient bank details. Do this once and future transfers take under 2 minutes.
- Transfer larger amounts less frequently — if you pay a fixed fee per transfer, sending SAR 5,000 once is more cost-efficient than SAR 1,000 five times. Balance this against exchange rate risk if rates are volatile.
- Keep a transfer record — save confirmation screenshots of every transfer. If a transfer is delayed or lost the reference number is essential for resolution.
Frequently Asked Questions
Is there a limit on how much I can send from Saudi Arabia to India per month?
Saudi Arabia does not impose a monthly cap on remittances for expat workers from their Saudi bank accounts. However individual platforms may have per-transaction or monthly limits — check your specific platform's terms. India's RBI also does not restrict incoming remittances from abroad for personal use. Large or unusual transfers may require additional documentation from your bank for anti-money-laundering compliance.
My family in India receives the money in their bank account. Do they pay tax on it?
Remittances received in India from a family member working abroad are generally not taxable as income in India under current tax law for amounts received by close relatives. However tax laws change and individual circumstances vary. For large regular transfers it is worth consulting a tax professional in India to ensure compliance with current rules.
Wise shows a better rate than Al Rajhi but takes longer. Which should I use?
For non-urgent transfers where 1–2 days is acceptable, Wise typically delivers a better rate that outweighs the wait time for most amounts above SAR 2,000. For urgent transfers where the recipient needs the money same-day, Al Rajhi is the better choice despite a slightly lower rate. Many expats use Wise for their regular monthly salary transfer and Al Rajhi for urgent needs — this is a practical approach.
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